Fab spokeswoman Deborah Roth confirmed the departures and said Fab has been recruiting for a new CFO since Jan. 1.

“We’re thankful and grateful for David’s two years of tireless service to Fab and we appreciate his decision to leave Fab to spend more time with his family,” said Roth. “We have been recruiting for a new CFO since January 1, 2014 and we are talking to some great candidates.” A job ad was posted on LinkedIn earlier this week.

Roth said Parisi had the opportunity to leave the company in November, but agreed to stay on through the end of the first quarter to help hire several new senior executives.

Fab raised hundreds of millions of dollars and commanded a valuation of $1 billion in a fundraising round closed last summer, but the company expanded too quickly and had to pull back on its growth plans as its audience and sales growth fell sharply.

“I decided that the best path forward for Fab was to slow down and significantly cut the burn rate while we strengthened the foundation, versus pursuing rapid growth,” wrote CEO Jason Goldberg in a long blog post on Jan. 7. “No doubt we had lost perspective at Fab. We had started to dream in billions when we should have been focused on making one day simply better than the one before it.”

Howard Morgan, a Fab director and partner with First Round Capital, a venture firm that invested in the company, said the plan is to get Fab to profitability as quickly as possible, but he declined to say by when.

Goldberg has previously said his goal is to get the company’s U.S. business to profitability by the end of 2014. But in his January blog post he said he would no longer put out a revenue, profit or traffic projection.

“Everyone realizes that Fab is going through a transition and it is not easy,” said Morgan. “I don’t think there is an IPO in our immediate future.”

Last year, as the company ran into trouble, Fab lost a number of its top executives, including co-founder and chief design officer Bradford Shelhammer, chief operating officer Beth Ferreira and head of marketing Jared Cluff. Fab peaked at around 700 employees, but is down to about 325 people after several rounds of layoffs, not including temps and contractors, said Roth.

In recent months, Parisi has hired a new head of marketing, Alex Do, who was a director of marketing at Levi Strauss & Co., and a new head of design, Kiel Mead, a founder of the American Design Club, a group dedicated to promoting new designers. The company also hired two new general managers of e-commerce.